The subprime crisis developed into euro crisis Paul Vieira, Financial Post ·     Angel Gurria is never short of words, or emotion. The secretary-general of the Organization for Economic Co-operation and Development will talk about almost anything economic-related, and do it with a passion that’s to be expected from a native of Mexico. Mr. Gurria, a […]

Maybe your mortgage needs a check-up Andy Holloway, Financial Post ·  While about 80% of Canadians visit a doctor at least once a year to help ensure they remain physically healthy, the number of people who check their financial health by regularly reviewing their mortgage is far less. Plenty can change in someone’s life in […]

The new face of debt Andrew Allentuck, Financial Post · Friday, Jun. 11, 2010 For James Kennedy, a federal civil servant before he retired, and his wife, Jane, who retired from the Calgary civil service, the golden years have become a series of tough compromises. Both 59, they live in Qualicum Beach, B.C., a five-minute […]

Carney plots cautious rate path Jeremy Torobin Globe and Mail   Mark Carney is taking a cautious approach to raising interest rates, weighing Canada’s powerful economic rebound against the uncertainty of an “increasingly uneven” recovery across the globe. The Bank of Canada Governor became the first central banker in the Group of Seven to raise […]

The Bank of Canada as suspected has raised its overnight rate by basis points and the banks will most likley follow by raising prime to This means if you have a 400,000.00 mortgage your payment will increase by as much $60/monthly. With every 25 basis point increase you can expect $12-$15 dollars per 100,000.00 in mortgage amount. We […]

Courtesy of The Burnaby & New Westminster NewsLeader Published: May 21, 2010 5:00 PM For most of her life, 56-year-old Royal City resident Jackie Olds thought owning a home was nothing more than a pipe dream. The market in the Lower Mainland was spinning out of control. There was no way she could ever afford to […]

JUNE 1 HIKE IN QUESTION By Claire Sibonney Reuters   The negative news has led many to question whether Bank of Canada will start raising rates from their current record lows on June 1. Yields on overnight index swaps, which trade based on expectations for the Bank of Canada’s key policy rate, have fallen in recent […]

Even recession didn’t slow down Canadian’s spending, report finds Tue May 11, 1:55 PMJulian Beltrame, The Canadian Press OTTAWA – Neither recession, global uncertainty nor growing joblessness appears to have stayed Canadians’ appetite for spending money they don’t have. A new report by the Certified General Accountants Association of Canada shows that household debt in […]

Courtesy of the Financial Post Andrew Allentuck, Financial Post  Published: Thursday, May 06, 2010 Taking on a mortgage is a big commitment. Every buyer who uses a mortgage has the choice of floating or going with a fixed rate that often costs a couple of percentage points higher per year. Today, for example, one can get […]

CMHC Survey – Revisited 0 Comment(s) > TORONTO, May 4 /JAC/ – The recent CMHC “The 2010 Mortgage Consumer Survey” provides some interesting numbers relating to lender loyalty at renewal time and mortgage broker market share, with more than half of British Columbia home buyers utilizing the services of a mortgage broker. The Survey in […]